# Financial Services and Markets Act 2023, Paragraph 106: Stay or sist of legal proceedings

Extent: E+W+S+N.I.

(1) This paragraph applies where—
(a) the Bank has exercised a stabilisation power in relation to a CCP or a CCP group company, and
(b) the CCP or CCP group company is a party to legal proceedings before a court in the United Kingdom.
(2) The Bank may apply to that court for a stay or sist of proceedings where the Bank reasonably considers that a stay or sist of those proceedings is necessary for an effective application of the stabilisation options or the stabilisation powers.

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Source: https://www.legislation.gov.uk/ukpga/2023/29/schedule/11/paragraph/106 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2023/schedule-11/paragraph-106
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.